A recap of notable news from the week.
Recapping the Week in DeFi
As the DeFi and crypto space continues to evolve at a rapid pace, it’s essential to stay informed about the latest developments and trends. Our weekly recap provides you with a concise yet comprehensive overview of the most significant news and trends in the DeFi and crypto space, helping you stay informed and up-to-date with the latest happenings.
Tether Releases Q2 2023 Report, Records $850 Million in Profit
Tether has published its Q2 2023 assurance opinion, validating the accuracy of its Consolidated Reserves Report (CRR) as of June 30, 2023. Per the attestation report, Tether’s excess reserves saw a rise of around $850 million, reaching a total of about $3.3 billion by the end of Q2. However, the profit was lower compared to the $1.5 billion declared in the first quarter.
Get full details in this article.
Battle of the Dapps: Contestants Announced
BSC News has revealed the contenders for this month’s iteration of the exciting Battle of the Dapps competition. This time, six exciting cryptocurrency projects will compete in three rounds, followed by a final round, to determine the ‘King of the Dapps.’
Find out who the participants are here.
Curve, Metronome, and Alchemix Unite to Offer 10% Bounty on Vyper Hack
Curve Finance, Metronome, and Alchemix, have announced a joint initiative offering the hacker a 10% bug bounty on the stolen funds following the recent exploit. On-chain data reveals that approximately $70 million worth of cryptocurrencies were stolen during the attack, making the potential bounty a substantial $7 million.
Details here.
Binance Becomes First Virtual Asset Exchange with Operational MVP License in Dubai
Binance’s Dubai subsidiary, Binance FZE, has obtained the world’s first Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This license allows Binance to offer approved services in Dubai, focusing initially on institutional and qualified retail investors. The accomplishment comes after previously securing provisional MVP and preparatory MVP licenses in March 2022 and September 2022, respectively.
Find more information in this article.
Controversial Worldcoin Protocol Encounters Major Security Vulnerability: Certik Approves Project’s Fix
Worldcoin has been embroiled in controversy due to its use of iris-scanning orbs for identity verification. The Kenyan government has recently expressed concerns about privacy issues related to this technology. Adding to its woes, Worldcoin faced a security setback when blockchain security firm CertiK discovered a critical vulnerability – a potential exploit that could allow hackers to infiltrate the system and become Orb operators without meeting the standard requirements.
Learn more in this article.
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